CDZ.TO vs. CMR.TO
CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - CDZ.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. CDZ.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, CDZ.TO returned 9.45%/yr vs 1.89%/yr for CMR.TO. At a correlation of -0.01, they often move in opposite directions. CDZ.TO charges 0.66%/yr vs 0.14%/yr for CMR.TO.
Performance
CDZ.TO vs. CMR.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CDZ.TO achieves a 14.38% return, which is significantly higher than CMR.TO's 0.99% return. Over the past 10 years, CDZ.TO has outperformed CMR.TO with an annualized return of 9.45%, while CMR.TO has yielded a comparatively lower 1.89% annualized return.
CDZ.TO
- 1D
- 0.81%
- 1M
- 3.65%
- YTD
- 14.38%
- 6M
- 11.25%
- 1Y
- 23.54%
- 3Y*
- 17.16%
- 5Y*
- 10.48%
- 10Y*
- 9.45%
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.05%
- 1Y
- 2.39%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
CDZ.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDZ.TO iShares S&P/TSX Canadian Dividend Aristocrats Index ETF | 14.38% | 13.45% | 17.86% | 8.98% | -4.43% | 22.80% | -3.27% | 25.68% | -8.84% | 4.92% |
CMR.TO iShares Premium Money Market ETF | 0.99% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between CDZ.TO and CMR.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008 | -0.01 |
The correlation between CDZ.TO and CMR.TO shifts across timeframes, from -0.01 (10 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CDZ.TO vs. CMR.TO — Risk / Return Rank
CDZ.TO
CMR.TO
CDZ.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) and iShares Premium Money Market ETF (CMR.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CDZ.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.84 | ||
| Sortino ratioReturn per unit of downside risk | -17.61 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 9.64 | -8.05 |
| Calmar ratioReturn relative to maximum drawdown | 5.76 | 25.66 | -19.90 |
| Martin ratioReturn relative to average drawdown | 19.51 | 188.94 | -169.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CDZ.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 10.70 | -7.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 10.68 | -9.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 7.03 | -6.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 3.84 | -3.32 |
Drawdowns
CDZ.TO vs. CMR.TO - Drawdown Comparison
The maximum CDZ.TO drawdown since its inception was -49.33%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for CDZ.TO and CMR.TO.
Loading charts...
Drawdown Indicators
| CDZ.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -0.52% | -48.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -0.09% | -4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -0.09% | -12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.15% | -0.09% | -17.06% |
Max Drawdown (10Y)Largest decline over 10 years | -45.70% | -0.14% | -45.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.14% | -0.01% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.01% | +1.20% |
Volatility
CDZ.TO vs. CMR.TO - Volatility Comparison
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) has a higher volatility of 1.97% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that CDZ.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CDZ.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 0.05% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 6.93% | 0.18% | +6.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.28% | 0.22% | +8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.86% | 0.28% | +10.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 0.27% | +14.36% |
CDZ.TO vs. CMR.TO - Expense Ratio Comparison
CDZ.TO has a 0.66% expense ratio, which is higher than CMR.TO's 0.14% expense ratio.
Dividends
CDZ.TO vs. CMR.TO - Dividend Comparison
CDZ.TO's dividend yield for the trailing twelve months is around 3.04%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDZ.TO iShares S&P/TSX Canadian Dividend Aristocrats Index ETF | 3.04% | 3.46% | 3.56% | 3.71% | 3.67% | 2.95% | 3.70% | 3.68% | 4.37% | 3.43% | 3.51% | 3.72% |
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
Frequently Asked Questions
CDZ.TO and CMR.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.66% for CDZ.TO.
CDZ.TO is categorized as Canada Equities, while CMR.TO is Money Market. Their fees differ too: 0.66% for CDZ.TO and 0.14% for CMR.TO.
Find the right allocation for CDZ.TO and CMR.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer